Ethiopia is fast becoming a rising star for sourcing garments. The country’s efforts to build its textile and garment industry and offer competitive prices have attracted a growing number of new buyers in recent years. Michelle Russell takes a closer look at the growth taking place in this developing market and what it has to offer those willing to invest.
Ethiopia’s clothing and textile sector is undergoing rapid expansion fuelled by foreign investment as companies seek to reduce their reliance on countries like China and Bangladesh.
According to investment management company Silk Invest, Ethiopia is the fifth fastest growing economy in Africa, the third highest in the world for public investment, has a GDP growthÂ averaging 10.7% over the last decade, and a population of 90m set to double in the next 20 years.
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